At first glance, it looks like it would require all miners and exchanges that convert between BTC and USD to register... However, I also found this: http://www

At first glance, it looks like it would require all miners and exchanges that convert between BTC and USD to register... However, I also found this: http://www.fincen.gov/financial_institutions/msb/definitions/msb.html http://www.fincen.gov/financial_institutions/msb/definitions... Among other things, it states that there is an activity threshold of $1,000/day before you have to register. Regarding miners, in current exchange rates, there is $180,000 in BTC being mined each day, so you'd have to be doing about 0.5% of the total BTC hashrate, which would currently be around 250Ghash/s, to one organization to qualify. Anyone with a rate that high is basically a for-profit business at this point, and with that income level, I'm not too worried about them having to register. The large pools also have rates well above that, but I'm not sure if they would qualify, depending on exactly how they distribute earnings. As far as exchanges, at that level of business, they pretty much are a substantial financial institution, and I don't see a real problem with them having to register as such. I see it as a net win for Bitcoin - a relatively reasonable amount of regulation, and in return, the implied assurance that there will not be a much more severe level of regulation or an attempt to criminalize anything involving Bitcoin. I think the market is reading it the same way, because BTC seems to be up against the USD on all of the exchanges I checked. Of course, I could be reading this all wrong... I'm no lawyer and I don't really know much of anything about financial regulations.